Income Taxes (Tables)

12 Months Ended

May. 31, 2015

Income Taxes

Schedule of components of provision for income tax (benefit) on income from continuing operations

	For the Year Ended May 31,
	2015			2014		2013
Current:
Federal	$	22.2		$	11.4	$	(3.7	)
State		0.4			0.4		(0.7	)
Foreign		1.5			0.8		1.5
		24.1			12.6		(2.9	)
Deferred		(52.6	)		19.0		28.3
	$	(28.5	)	$	31.6	$	25.4

Schedule of difference between the provision for income taxes on income from continuing operations from the amount computed by applying the U.S. federal statutory tax rate

	For the Year Ended May 31,
	2015			2014			2013
Provision for income tax (benefit) at the federal statutory rate	$	(29.0	)	$	34.6		$	26.0
State income taxes, net of federal benefit and refunds		0.2			0.2			0.4
Federal adjustments		0.5			(2.0	)		0.3
Domestic Production Activities Deduction		(0.2	)		(1.2	)		—
State adjustments		—			—			(1.3	)
Provision for income tax (benefit)	$	(28.5	)	$	31.6		$	25.4

Schedule of income (Loss) before provision for income tax (benefit)

	For the Year Ended May 31,
	2015			2014		2013
Domestic	$	(94.2	)	$	81.9	$	58.4
Foreign		11.2			16.9		15.8
	$	(83.0	)	$	98.8	$	74.2

Schedule of components of deferred tax liabilities and assets

	May 31,
	2015			2014
Deferred tax assets-current attributable to:
Inventory costs	$	35.4		$	14.4
Impairment of PSM assets		13.4			—
Advanced billings		6.0			2.0
Employee benefits		3.5			7.9
Other		—			0.3
Total net deferred tax assets-current		58.3			24.6
Deferred tax assets-noncurrent attributable to:
Postretirement benefits		18.9			17.6
Advanced billings		8.3			16.2
Foreign intangible assets		—			44.2
Other		3.9			6.7
Total deferred tax assets-noncurrent		31.1			84.7
Total deferred tax assets		89.4			109.3
Valuation allowance		(2.8	)		(2.8	)
Total deferred tax assets net of valuation allowance	$	86.6		$	106.5
Deferred tax liabilities attributable to:
Depreciation	$	(132.4	)	$	(158.4	)
Capitalized program development costs		—			(34.1	)
Foreign intangible assets		—			(42.9	)
Other		(0.5	)		(3.2	)
Total deferred tax liabilities	$	(132.9	)	$	(238.6	)
Net deferred tax liabilities	$	(46.3	)	$	(132.1	)